Taro Update

There is no sugar-coating Taro’s latest results. They weren’t great. Here are a few thoughts, some specific to Taro and some general.

The first mistake people make when fooling themselves (remembering of course, that you are the easiest person to fool) is not to admit a mistake. If you have a 50-year investment horizon, the best way to earn great results over that 50 years is not to shoot fo...